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We are providing technical analyzes for the financial markets and how they behave based on the Elliott Wave Principle. The Elliott Wave Principle gives you a method for identifying at what points a market is most likely to turn. And that, in turn, gives you guidance as to where you might enter... More
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  • Bearish Reversal On EURUSD: Pullback Could Be A Short Opportunity – Elliott Wave 0 comments
    Nov 1, 2013 4:21 AM

    EURUSD fell sharply lower with accelerating price action towards 1.3550 with characteristics of an impulsive decline. Notice that pair also moved through the channel support line connected from September low which could be an important evidence for a change in trend. From a minimum expectation point of view a decline from 1.3835 should unfold in three legs, so be aware of more weakness and maybe even a short opportunity after wave 2/B pull-back. For now price is still moving lower in wave 1/A that could stop at 1.3450-1.3500 zone; at former wave four.

    EURUSD 4h

    (click to enlarge)

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